v3.25.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash Flows From Operating Activities:      
Net income $ 109 $ 117  
Adjustments to reconcile net income to net cash used in operating activities:      
Depreciation and amortization 155 223  
Share-based compensation 1,665 675  
Warranty provision 2 21  
Change in fair value of warrant liabilities (4,029) (4,179)  
Non-cash lease expense 74 71  
Provision for doubtful accounts 37  
Inventory obsolescence reserve 18 12  
Changes in assets and liabilities:      
Accounts receivable (184) 683  
Inventories 71 (584)  
Prepaid expenses and other current assets (404) 129  
Accounts payable (115) (19)  
Operating lease liability (74) 39  
Customer deposits (982)  
Accrued liabilities and other (272) 164  
Warranty settlement (7) (42)  
Deferred Revenue (155) (52)  
Changes in other non-current assets 40  
Net cash used in operating activities (3,069) (3,724)  
Cash Flows From Investing Activities:      
Proceeds from maturities of short-term investments 2,500  
Capital expenditures for property and equipment (2) (14)  
Investment in patents and trademarks (44) (66)  
Net cash paid for acquisition of W1, LLC (54)  
Net cash (used in) provided by investing activities (100) 2,420  
Cash Flows From Financing Activities:      
Proceeds from exercise of stock options 588  
Proceeds from issuance of warrants and common stock, net of offering costs 5,729  
Dividends settled in Cash (60)  
Net cash provided by financing activities 5,729 528  
Net increase (decrease) in cash and cash equivalents 2,560 (776)  
Cash and cash equivalents, beginning of period 3,610 3,955 $ 3,955
Cash and cash equivalents, end of period 6,170 3,179 $ 3,610
Supplemental Disclosure of Non-Cash Investing and Financing Activities:      
Dividends on convertible preferred stock (164) (189)  
Dividends settled with common stock $ 164 $ 129  

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